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1 inelastic
(demand) fixeThe telcos have one basic advantage over their suffering dot-com cousins: While many Internet firms were built on demand that has yet to materialize (people will love buying groceries over the Internet -- right?), the telecom sector is blessed with what economists call inelastic demand. In other words, people will always want to make phone calls and transmit data, regardless of how low the market sinks.
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